MANJU JAISWAL Vs. RECOVERY OFFICER D R T

JUDGEMENT

(1.) This writ petition has been filed for quashing auction proceedings held on 24.2,2003 auctioning house No. 5/B, Tagore Town, Allahabad and 603, K. L. Kydganj, Allahabad. Petitioner has also prayed for quashing the further recovery proceeding in pursuance of orders dated 20.2.2003 (Annexures-5 and 6).

(2.) It is alleged in para 2 of the writ petition that the respondent No. 3 Oriental Bank of Commerce filed suit No. 66 of 1999 for recovery of Rs. 61,56,423.46 alleging that late Ashok Kumar Jaiswal was having Current A/c No. 842 in the respondent Bank in which overdraft facility upto Rs. 12,00.000 was given to him and the petitioners were shown as guarantors/sureties to secure the repayment of the overdraft facility.

(3.) Ashok Kumar Jaiswal filed a written statement and made an application that he is willing to pay the reasonable amount by way of negotiation with the bank, but he denied the amount claimed by the bank alleging that it was on the higher and excessive side. It is alleged that the bank agreed for considering the request of late Ashok Kumar Jaiswal, and hence to show his bona fide he deposited Rs. 5,00.000 with the bank.